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Qnexa

In a surprise move Tuesday, the FDA rejected Orexigen's proposed new diet drug Contrave, saying the company needed to run another study of its cardiovascular risks. With this rejection, all three of a slate of similar diet drugs from competing pharmaceuticals have been turned back by the agency.

It's a busy day at the FDA today as panels meet to discuss two new drugs -- one to help weight loss and the other to combat drug addiction -- and decide whether to approve AstraZeneca's new blood thinner medication.

Pharmaceutical company Vivus is getting hammered in premarket trading, sinking more than 50% to around $5.32 in the wake of Thursday's vote by an FDA advisory panel against approving its weight-loss drug, Qnexa, based on safety concerns.

Pharmaceutical company Vivus and investors waited anxiously Thursday for the vote of an FDA advisory panel on the weight-loss drug Qnexa. The verdict is in, and by a vote of 9 to 7, panelists didn't support approving the drug as an obesity treatment.

An expert panel will review Vivus' potential blockbuster drug Qnexa on Thursday, with the FDA making a decision in October. The FDA acknowledges the drug's effectiveness in cutting weight, but it will certainly draw scrutiny over its side effects.